US President Donald Trump has signed an executive order to eliminate subsidies for green energy sources such as wind and solar.
The order directs the Secretary of the Treasury to terminate the clean electricity production and investment tax credits for wind and solar facilities and implement the enhanced Foreign Entity of Concern restrictions as identified in the One Big Beautiful Bill Act.
In addition, the order directs the Secretary of the Interior to revise regulations and policies to eliminate preferential treatment for wind and solar facilities compared to “reliable, dispatchable energy sources”.
In the executive order, signed on 7 July, Trump says he is committed to unleashing American energy and preventing American taxpayers from funding “expensive and unreliable energy policies from the Green New Scam”.
Trump said: “Unreliable wind and solar energy sources displace affordable, dispatchable energy, compromise America’s electric grid, and denigrate the beauty of our nation’s natural landscape.
“Reliance on so-called ‘green’ subsidies threatens national security by making the United States dependent on supply chains controlled by foreign adversaries.
“Ending the massive cost of taxpayer handouts to unreliable energy sources is vital to energy dominance, national security, economic growth, and the fiscal health of the nation.”
Instead of renewables, Trump wants to harness nuclear, fossil fuels, and emerging technologies to secure American energy independence and fuel economic growth.
Under the One Big Beautiful Bill Act, renewable energy tax credits will be ended after 2026 if projects have not begun construction.